Recession Response

The world needs small business success more than ever now, and you are in a unique position to not partake in recessions and inflation.

This page has free, downloadable worksheets and videos from me with actionable steps you can take today.

I hope this page serves you. Stand up, step forward, and kick some ass, my entrepreneurial friends!

As always, thank you for allowing me to be on this journey with you.

-Mike

Industry Leader Insights

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How to Find a Little Extra Cash

with Chris Guillebeau, bestselling author of The Money Tree

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What is The Rapid Growth Analysis?

Check out this simple analysis to drive your business forward!

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Virtual Meeting Tips

You’re running your business virtually more than ever. Here are some tips for your virtual meetings.

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The Block Control Method

Another strategy to help move you forward!

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A Quick Tip for Boosting Confidence

How do we achieve confidence, especially during a crisis? You have it, let’s make sure you apply it!

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What’s the 10-2 Method?

Here are some tips to serve your business today and for the next stages after a crisis as well.

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The Positive Process

Positive thoughts can stage your business for success. Here are some things I do to take positive actions to sustain my business.

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One Step Back Method

In a time of crisis, we have to repackage our offering, and that entails taking a step back and looking at what occurs before your final offering to discover what you can offer now.

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Check out The Evolve Technique!

Learn how to communicate thoughtfully to level up your business.

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What is The Pareto Overlap?

Check out this video to see how to cater to your best clients in uncertain times.

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Frequent Communication

Stay in frequent communication with customers in shorter duration. Keep the relationship intact by reaching out often with short and succinct messaging.

Crisis Strategy:

A Healthy Business = Sales, Profit and Order

There are three core levels to a healthy business in any circumstance, but it has never been more relevant than now. You must establish sales, profit and order. If you are looking for books to support you and your business during these uncertain times, here are a few of my suggestions:

  1. Sales – Marketing Made Simple, by Don Miller (Complimentary book is The Pumpkin Plan)
  2. Profit – The Total Money Makeover, by Dave Ramsey (Complimentary book is Profit First)
  3. Order – Extreme Ownership, by Jocko Willink and Leif Babin (Complimentary book is Clockwork)

I hope they serve you well.

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Opportunity or Opportunistic?

Here’s the difference.

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Tax Extension

There is a tax extension, but taxes will still be due. Here’s how to prepare.

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Triple Tax Punch

How will you pay 3 tax installments due in 60 days?

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Debt

You may look to acquire more debt to get by. Please listen to this first!

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Risk

In a crisis, your business will be best served by measuring the risk at play, while considering the opportunities that can be created.

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3 Plans

Right now, your business must respond with three plans: What is your cash flow plan? What is your business plan? What is your message? Here are a few tips on each.

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10-10-10 Rule

Use the 10-10-10 Rule created by Suzy Welch when making tough decisions for your business.

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Scheduling Hack

When a crisis hits, we tend to respond by taking everything on at once. Here is an important scheduling hack.

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Customers’ Customers

What do your customers’ customers need right now?

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Short Term Planning – Long Term Vision

How short term planning will help you now

Comments

41 thoughts on “Recession Response”

  1. Great ideas, Mike. As a Canadian who serves US and Canadian customer, having a QuickBooks ProAdvisor membership in both countries right now doesn’t make sense – especially with the new exchange rates! Looking forward to whatever you have to say about Profit First percentages when the time comes.

  2. I have a music school. And now we migrate our students to online classes. I have automatic collections with my bank.

    Do you think is wise to keep charging my clients whitout consulting them first if they agree on still working with us?

    Thanks for your help!!

    1. Do not autocharge anyone right now without asking if they want to continue to pay and get online classes instead.

      The type of blowback you could get online in bad reviews if anyone posts it to social media could kill your business reputation.

  3. Mike – at this difficult time it is fascinating to discover people’s underlying motives. Sadly, the majority are making a quick buck if they can without really helping. Whereas you have shown your true values – genuine support for people in need with nothing in return (except the knowledge that you are helping).

    Thank you.

  4. So much information, not sure where to start!! As an entrepreneur, I had just put the finishing touches on my hardware/ software. I had a meeting scheduled, and was just ready to launch when literally the day of the meeting we had COVID-19 quarantine knee cap me.

    I have spent this quantine “downtime” as a way to really fine tune my message. Like in the movie Far and Away, I am at the starting line waiting for the cannon signal. As we transition out of COVID-19 and into a bull blown recession, I have plan.

    All the planners of large pumpkins, I suggest that you: observe the status quo, challenge the status quo, network (at a safe distance) with other of diverse backgrounds, experiment with new ideas, and most importantly be a catalyst for new ideas.

    I want to thank you Mike, your ideas in print/audio have allowed me to grow as an entrepreneur. If thoughts were seeds, you have planted an Atlantic Giant – well done sir.

    Side note, up until The Pumpkin Plan I have never ever given a book to anyone, I have given 7 copies of your book in the last 6 months.

  5. Hi Mike,

    Thanks for sharing this. I have found your engagement with the business owners community most encouraging personally. I just started my own business just over a year ago, so these are proving to be valuable for me. The support you’re offering is great. And I’m learning quite a lot from you just by observing and reflecting on the way you do things.

    God bless!

    Feyi

  6. So comforting & validating to see the Business Crisis Trend graph. I definitely had a period of overreacting, and now it feels like things have leveled, which hopefully means we are on the upward swing! Thank you for your continued support & helpful content, Mike.

  7. Thank you, Mike!
    I appreciate your generosity and vulnerability! My first thought was THAT IS THE COOLEST BOOKSHELF! Where did you get the tree?
    Make it a strong day!
    You ROCK!

    1. LOL. Thanks Regina. I bought it on Etsy (I love Etsy). You can go there and type in “tree book shelf” and will find multiple options. And back at you… YOU ROCK!

  8. Lots of good stuff here, Mike!

    As you know, my thing is tourism and there is absolutely NONE of that happening now. Any ideas? Fortunately I have only one employee and no vehicles or other infrastructure which made me “small fry” in the past but makes me happy now!

    Cheers from all of us here in Merida, Yucatan, MEXICO.

    1. Yes I have ideas. First a challenge… what do your customers (past and present) want now? If you don’t know ask them. And pepper them with ideas:

      1. Can I go on a hunt for you and find an artifact and mail to you?
      2. Was there a place you visited before and want to see virtually, live again?
      3. Do you want to experience story telling from places in Mexico?

      Just riffing, but push yourself by asking how can I give people a taste of Mexico in new ways!

  9. Your talk on the Business Crisis Trend you did with my dear friend, Matt Ward, has been one of the most inspirational messages I have seen / heard so far in this business / social / medical crisis. Thank you so much for your insight and for the wisdom of the curve based on what we have seen and been through in the past. It has given me real fire to pursue ‘the rest of the curve’. I wish you the very best! Hope to see you and get to serve together sometime in the near future.

  10. Many, many thanks, Mike. You always come through with good ideas and thoughtful support. I’ve encouraged others to follow you and check out this page because they need to know you.

  11. yay!!! I got the magazine today, and it says there is an audiobook for the Recession Response! But I do not see it on this page!!!! :'(

  12. Finally decided to start my own accounting firm and I have found your books and wise words are putting me on a safe track. Now I think I know what I should be looking out for. I can not wait to start applying all some of your techniques as my business grows.
    THANKS, MIKE. YOU FREAKING ROCK.
    My subconscious mentor.

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